Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7437 Fleeting Joys Avenue Las Vegas, NV 89113

4 Beds 3 Baths 2,888 sqft Built 2018

$439,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $152.01
  • 2 Days on Market
  • MLS # : 2248397
  • Updated Date : 11/14/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,888 sqft
  • Baths : 2 full , 1 half
Listing Agent

Desert Springs Realty Ltd

Listing Agent's Description

Richmond America home built in 2018,this gated southwest home includes open floor plan stainless steel appliance

SEE MORE

MARKET HIGHLIGHTS

  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k321k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10701722

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,620
Property Tax -$368
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
-$89

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$439,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$24,819

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,100

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,115

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,1004$2,1005$2,295
$2,295
RENT COMPS ANALYSIS
  • 7437 Fleeting Joys Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.73
    •  
  • 6070 Villa Lante Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,775 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,775 Sqft ∙ Built 2003
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 6077 Villa Trieste Court Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,775 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,775 Sqft ∙ Built 2003
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 7712 Buckhorn Island Avenue Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,057 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,057 Sqft ∙ Built 2015
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.69
    •  
  • 7916 Lisa Marie Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 2001
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
PROPERTY LISTING DETAILS
Zhe Meng
1.702.461.2884
Desert Springs Realty Ltd
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248397
Last Updated: 11/14/2020
BESbswy